Arizona silver belt., 1887-01-15
alSING. Irs FAIrbREs AND SUCCESSES

sections where some degree OF pros
perity and substantial advancement
was not recorded are few indeed There
is no question but what the mining of
precious metals is emerging from the
stygian gloom which has enshrouded
It for several years, and is claiming the
attention from capitalists that Is really
deserves, but which had previously
been lost through floating of wild
cat mines ly irresponsible parties
and the gross mismanagement ofroally
valuable mining properties which,
under intelligent and business like
methods, should have paid investors
fair returns.
The year 1886 saw the beginning
'of this renewed interest and con-
6dence, mainly brought about
througha few rich discoveries and
Fortunate investments in mines such
as the Granite Mountain, of Deer
Lodge county, Montana, which paid
during 1886, in dividends, $1,000, 900
and the present valuation Of which is
s22, 900, ,o00-excgeding that OF the
Calmet & Hecla. a great number Of
companies, organized during tho past
six months, in various sections Of the
West, are making preparations for
The vigorous prosecution of work the
coming season. There is much in
the situation that is hopeful and
while Arizona has, from obvious rea-
sons, thus far failed to gain that recOg-
milton which her great mineral wealth
rightly entities her to, yet there are
abundant signs that we are to share
with our sister territories IN the ap-
preaching prosperity.
But while the situation holds much
of promise, nevertheless there are
features about it-probably insepara-
bic from mining booms--that are om-
inous, namely, the purchase of worth,
less properties, the stocking Of mines
far beyond their intrinsic value and
incompetent management, These are
the causes which in the past hindered
the progress Of mining and again
threaten tn eheck its rise. There is,
apparently, craze on with thO public
to buy mining stocks ofany and every
description, not alone by wealthy indi-
yiduals, but also by people Of limited
means, who are not content until
their savings have gone into mining
shares, of the real value ofwhich they
are, in large majority Of cases, en-
tirely ignorant. st. Louis furnishes
the most striking example Of this
mania. Three o. feur years ago min
ing men would have as socn thought Of
looking in the moon for purchasers of
their mines as to st Louis. Now no
prospect hole is so insignificant but
what a purchaser can be found for it
thers. Almost weekly there is record.
ed there the formation Of a mining
company, some of them stocked for
one to ten million dollars! Why, Col.
sellers in the widest flights OF fancy,
over his Oriental Eye Water, ="
never dreampt of the vast wealth Gas
set forth in the report Of she expert }
that is to be raised from the bowels OF
the earth through the five by six pros
peCt holes and paid in dividends to
stockholders Of these companies.
There are many legitimate mining
projects that have been and others
that will, in the near future, be set on
foot by men Of HONEST purpose who
will carry into mining the same
sound and sagacioas principles by
which they attained success IN other
pursuits. Such men the West wants
men who look upon mining not as &
speculation but as legitimate bust
hess, requiring the same intelligent
and commonsense management as il
necessary to success in any merean
tile pursuit.
Bat those men who purchase un
developed claims for a few thousant
dollars and float them on an unsus
pecting and credulous public for tel
times their cost, are greater criminals
than the defaulting bank cashier O.
the highway robber, and should be s.
eonsideted in the eyes Of the law
Thefe is not one chance in a Thousand
for the success Of such wild projects
as their originators vel! know, ans
when failure comes and the stockhold
ers' money is swallowed up, tn
West must bear the burden Of censur
and mining denounced as a rank spec
ulation. These dupes Of the fne-hair
cd gentlemen who baye lined thei
own pockets, seldom think of accusing
them Of dishonesty, but they are, i
nearly every instance, responsible 70
the failure and who, if justice wer
nete out, would change their res
idence from the aristocratic manslo
to the penjtentiary.
We need not go away froT
hnn,n Fnr aL1ch nrn,rnlrs ~ fallnra a